Bullock v. Citizens National Bank of Waco

BRADY, Justice.

This is a sales-tax refund suit. Appellant, Comptroller of Public Accounts, appeals from the trial court’s judgment that four sale and leaseback transactions between appellee Citizens National Bank of Waco and two of its customers are not taxable. The trial court rendered judgment for appellee for $13,414.10, the amount of taxes paid under protest and contested at trial. We will affirm the judgment of the trial court'.

The sale and leaseback transactions which precipitated this lawsuit arose in the following manner. Appellee’s customers, M. Lip-sitz & Co., Inc, and Central Waste…